30 November 2021
From 1 January 2022, Italy will extend its mandatory real time invoice-reporting regime used by Italian resident VAT registered businesses to include intra-community (EC) sales.
Currently, Italian resident businesses only use this regime for domestic sales to other VAT registered businesses in Italy. However, from 1 January 2022, resident Italian businesses will also be required to include their EC supplies made to VAT registered businesses in other EU countries within this regime.
The real time invoicing process requires businesses to declare their sales to the Italian tax authorities via an e-invoicing platform (Sistema di Interscambio SDI). This is instead of sending the invoices to their customers directly. The Italian tax authorities will then check these invoices and if correct, it will approve them by applying a digital stamp. It will then send the invoice directly to the customer on behalf of the Italian supplier.
The Italian authorities also confirmed that they have no plans to extend the real time invoice reporting to non-resident companies who are VAT registered in Italy.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
LATEST NEWS
Sri Lanka defers non‑resident VAT on B2C...
Sri Lanka’s Inland Revenue Department (IRD) has announced a further deferral of VAT on digital services supplied through electronic platforms by...
SEE MORE
LATEST NEWS
Germany provides further guidance on how e-invoicing...
The German Ministry of Finance (Bundesministerium der Finanzen, BMF) has updated the e‑invoicing frequently asked questions on its website. The updated FAQs...
SEE MORE
LATEST NEWS
Slovakia proposing to extend domestic reverse charge...
Slovakia is considering expanding its domestic “reverse charge” VAT rules to certain higher risk services. The sectors reported to be in scope include IT...
SEE MORE